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09-07-2017, 09:06 PM
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#41
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Thinks s/he gets paid by the post
Join Date: Nov 2011
Posts: 3,877
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Nothing will improve in this area until the banks and credit bureaus have more skin in the game.
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09-07-2017, 09:08 PM
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#42
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2008
Posts: 13,130
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Quote:
Originally Posted by Fermion
The IRS has to assume that everyone got hacked so that would be silly to need to notify them. 150,000,000 people is half the population.
I think it is time we stopped using SS# for identification and credit reporting. Even yahoo mail requires more security now than 9 digits
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Will be interesting to see how the IRS handles this. Will they require everyone to use a postcard PIN? To be continued, I guess.
__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
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09-07-2017, 09:09 PM
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#43
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2012
Location: Seattle
Posts: 6,008
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So EFX is down some 13% in after hours. I might buy some puts tomorrow because this baby is going down some more.
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09-07-2017, 09:12 PM
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#44
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Moderator Emeritus
Join Date: May 2007
Posts: 12,894
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It was only a question of time. With the credit bureaus collecting so much information on all of us, they are the ideal target.
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09-07-2017, 11:47 PM
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#45
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Thinks s/he gets paid by the post
Join Date: Jun 2007
Posts: 2,657
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Quote:
"Bloomberg reports that three Equifax senior executives sold shares worth almost $1.8m in the days after the company discovered the breach – but before Thursday’s disclosure. That’s bound to fuel anger from customers who will want to know why."
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Seems like pretty obvious insider trading. Will be interesting to see if it gets prosecuted.
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09-08-2017, 04:53 AM
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#46
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2008
Posts: 13,130
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Maybe EquiFax should change it's name to EquiLax?
__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
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09-08-2017, 05:13 AM
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#47
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,586
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09-08-2017, 06:11 AM
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#48
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2008
Posts: 13,130
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Okay, so I click on the EquiFax link to check if my info was compromised. Firefox flags the site a phishing and deceptive. I don't think the site is phishing since in the news. But still... .
Checked and got the result of, as Maury Povich says, "I am NOT the father".
In other words, looks like not impacted .
__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
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09-08-2017, 07:28 AM
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#49
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2012
Location: Seattle
Posts: 6,008
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Thinking about it overnight, I think this event will actually greatly increase the earnings of all three major credit reporting agencies.
The reason is the $10 to freeze your credit and $10 for each temp thaw/refreeze.
If only 10% of the 150,000,000 people decide now to freeze their credit, and do about three thaws a year like we have, then you are talking an increase in revenue of $900 million a year. FOR DOING NOTHING
Might actually be time to buy Equifax stock on a dip.
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09-08-2017, 08:19 AM
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#50
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Thinks s/he gets paid by the post
Join Date: Jan 2012
Posts: 2,581
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Not impacted... whew. I think I'll still enroll in the credit monitoring service, since it's free, unless there's some sort of downside to it that I'm not aware of.
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09-08-2017, 08:22 AM
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#51
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Recycles dryer sheets
Join Date: May 2010
Location: Cincinnati
Posts: 384
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09-08-2017, 08:27 AM
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#52
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2013
Location: Les Bois
Posts: 5,761
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i'm impacted and I currently have a protection account with equifax
__________________
You can't be a retirement plan actuary without a retirement plan, otherwise you lose all credibility...
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09-08-2017, 08:32 AM
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#53
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2009
Posts: 6,682
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I have a credit freeze with the Big Three but got the bad news message others describe above.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
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09-08-2017, 09:07 AM
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#54
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Recycles dryer sheets
Join Date: Aug 2016
Location: Cottage Grove
Posts: 212
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I've had free credit monitoring for at least 4 years now due to places I've had business with getting hacked including the DoD. They all send you a letter of apology with the info to sign up for a year of free credit monitoring. At some point, I assume, things are going to get very bad for me but so far I haven't had any issues.
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09-08-2017, 09:13 AM
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#55
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: Bernalillo, NM
Posts: 2,717
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Quote:
Originally Posted by Johanson
I've had free credit monitoring for at least 4 years now due to places I've had business with getting hacked including the DoD. They all send you a letter of apology with the info to sign up for a year of free credit monitoring. At some point, I assume, things are going to get very bad for me but so far I haven't had any issues.
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+1
__________________
"We live the lives we lead because of the thoughts we think" ...Michael O’Neill
"We can cannot compel others to do our will" ....Norman Goldman
"There never is shortage of the gullible to accept the illogical"...Anonymous
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09-08-2017, 09:20 AM
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#56
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 17,171
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Disappointing?!?!?! Is that the best adjective they can come up with?
How about something like "We have just made the lives of 143 million people a lot more difficult by miserably failing to prevent or quickly detect and stop this violation of our security. We made matters worse by waiting over a month to tell you about it thus further risking your financial security and trashing any remaining trust you may have in us. The Chairman, Execs and Board of Directors are now being instructed in Japanese art of Seppuku."
If you have not already done so, Freeze your credit at all three major credit bureaus at once. Presumably that still works properly. But, then again... who knows for certain anymore?
__________________
Comparison is the thief of joy
The worst decisions are usually made in times of anger and impatience.
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09-08-2017, 09:24 AM
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#57
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 17,171
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Quote:
Originally Posted by GrayHare
Nothing will improve in this area until the banks and credit bureaus have more skin in the game.
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I was joking about Seppuku, but it certainly would put some 'skin in the game' - quite literally.
__________________
Comparison is the thief of joy
The worst decisions are usually made in times of anger and impatience.
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09-08-2017, 09:28 AM
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#58
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Moderator Emeritus
Join Date: May 2007
Posts: 12,894
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Quote:
Originally Posted by Fermion
Thinking about it overnight, I think this event will actually greatly increase the earnings of all three major credit reporting agencies.
The reason is the $10 to freeze your credit and $10 for each temp thaw/refreeze.
If only 10% of the 150,000,000 people decide now to freeze their credit, and do about three thaws a year like we have, then you are talking an increase in revenue of $900 million a year. FOR DOING NOTHING
Might actually be time to buy Equifax stock on a dip.
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After this debacle, there will probably be a push to lower or eliminate fees on credit freeze. If your identity has been compromised by Equifax's failure to protect your data, could you imagine having to pay them money to freeze/thaw your credit? And why am I required to do business with this company in the first place?
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09-08-2017, 09:28 AM
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#59
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 2,605
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Removing top brass doesn't solve the problem it just removes a target. Seriously, any business can get hacked. No matter how careful they are. Credit monitoring? I generally pass on the offer, I want monitoring that rejects the fraudulent charges. CC companies already do that.
Rita
__________________
Only got A dimple, would have preferred 2!
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09-08-2017, 09:41 AM
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#60
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,204
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Great, you can't really protect yourself these days. One day there will probably be a whopper hack like we've not yet seen, just a matter of time. Even though we never "enrolled" with them, Equifax site said DW and I were both affected so we signed up for the "free" security. Probably a ruse to get more info...
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
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